US Residential Fencing Market: Steady Growth as Preferences Shift to High-Value Options
Dublin, Nov. 13, 2023 (GLOBE NEWSWIRE) — The “US Residential Fencing Market Report 2023” has been added to ResearchAndMarkets.com’s offering.
The report presents an insightful analysis of the current trends and future directions of the US residential fencing market.
- Growth Forecast: By 2027, the market is expected to reach $6.7 billion, with a modest annual growth rate of 1.0%.
- Market Dynamics: A shift to higher-value materials is anticipated, despite a deceleration in material price inflation and a dip in housing construction.
Trends in Material Use
- Metal Ornamental Fencing: There’s an uptrend in demand for metal ornamental fencing due to its aesthetic and durability advantages.
- Plastic and Composite Fencing: These materials are gaining market share over traditional wood, benefiting from technological advances that improve appearance and performance.
Historical Market Trends
- Fluctuations in demand are closely tied to broader economic factors, including housing market dynamics, renovation activity, and changes in consumer behavior.
- Notable spikes in demand occurred in 2020, reflecting pandemic-driven shifts in living and spending patterns.
- Improvement and Repair Segment: This dominates the market, representing 81% of demand in 2022.
- New Housing Segment: Expected to decline as new construction slows down in the forecast period.
- Stable Pricing Forecast: Average prices per linear foot to remain nearly flat until 2027.
- Material-Specific Trends: Metal fencing prices to rise with demand, while wood and composite fencing prices may stabilize or decrease due to market competition and raw material costs.
- Wood: Continues to lead in market share for its cost-effectiveness and aesthetic value.
- Metal: Favored for its longevity and security features.
- Plastic: Chosen for maintenance ease and lifespan, with increasing aesthetic appeal.
- Composite: Gaining ground for its sustainable attributes and low maintenance despite a higher initial cost.
Key Report Features
- Comprehensive Coverage: This report covers various aspects of the market, including demand by application, material, product type, housing type, and regional trends.
- Consumer Behavior: Analysis of factors influencing fence demand, such as outdoor space use, pet ownership, and pool installation.
- Sustainability Focus: Insight into the growing importance of sustainable fencing options.
For a complete understanding of market projections, competitive landscape, and strategic insights, access the full “US Residential Fencing Market Report 2023” athttps://www.researchandmarkets.com/r/2t0ew7
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